Coca-Cola Co. investors should reject the company’s executive compensation plan because of “serious concerns” about a $12 million consulting deal for its former general counsel, a shareholder-advisory firm said, deepening a controversy that began with a push for greater diversity.
Bradley Gayton, who resigned last year as Coca-Cola’s top lawyer after only about eight months on the job, wasn’t entitled to any compensation based on a voluntary separation, adviser Glass Lewis & Co. said in a report. Even in a hypothetical scenario in which he was terminated without cause, he would have received only $1.57 million.
“Shareholders may ...
